GPIF reports 1.19% investment loss in April-June


Source: asiaasset.com asiaasset.com

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Japan’s Government Pension Investment Fund (GPIF), which invests nearly half its assets in equities, saw its investments swing into the red in the first quarter of its current financial year as the war in Ukraine, China’s zero-Covid policy and US rate hikes battered stock markets. The world’s largest pension fund incurred a 3.75 trillion yen (US$27.83 billion) or 1.19% investment loss in the April-June period of its financial year ending March 2023. GPIF announced the results in a statement on August 5 without providing any analysis. A fund manager in Hong Kong points out that the GPIF isn’t an outlier...